Many of the import competing sectors in Moroccan agriculture are protected while water in irrigated agriculture is priced below its marginal value product. Establishing a water market in this pre-trade reform environment can be welfare decreasing. Further, as the shadow price of water is...

This paper has three basic purposes. The first is to review a rigorous framework for the analysis of commons dilemmas proposed by Dasgupta that avoids many basic faults of the usual apparatus. The second is to relate this analysis of the commons to models of external effects and public foods....

The economic value of energy storage to meet peak electricity demand is analyzed with an emphasis on the role of demand uncertainty. The concept of the stabilization value, which measures that part of the benefit of the storage project which is due solely to the stochastic demand components, is...